This article forms part of our insurance glossary and how-to series. Have you ever heard of Reinstatement and Day One Basis of Cover? What is Reinstatement Basis of Cover ? What is Day One Reinstatement Basis of Cover ? Is Day One Reinstatement more expensive ? Why choose a Day One Basis ? Example of calculating a…
It’s not long since we had the latest round of flooding in the UK and I remember when it hit. As I watched the news that night I couldn’t help thinking “Here we go again.” and “This is just getting worse and worse, we should have seen this coming”. I doubt I was alone! For…
Have you ever wondered what a Loss Adjustor is? What about a Loss Assessor? Perhaps you already know roughly what they both do but would like to know more? The following article will attempt to elucidate! Contents What is a Loss Adjuster? What does a Loss Adjuster do? What is a Loss Assessor? What does…
At ADM Network we’re currently looking for software developers and sales executives in the insurance software sector to join our rapidly growing operation in Cambridge, UK. If you haven’t yet heard of SchemeServe, please see http://www.SchemeServe.com for more information on the software you’ll be working on / promoting. Full job descriptions for both roles are…
As part of our ongoing insurance how-to we continue to explore the terminology and practices used in the Insurance world. Today we will be looking at The Average Condition and will explore ; What is an Average Condition ? Example of Average applying to a Claim Special Condition of Average – 75% Why do Insurers…
As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we will be looking at Operating Ratio and will explore: What is an Operating Ratio? How do you calculate an Operating Ratio? How can an Operating Ratio help me with my business? What…
This week we’ll be expanding our glossary of insurance terms as we delve into Binding Authorities. Article contents: What is a Binding Authority? How does an Insurer control a binding Authority? How does the Insurer get their premium? Who handles the claims? What is a Binding Authority? A Binding Authority is an agreement whereby an…
As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we’ll be explaining Lapse Ratio, how it is used and the effects is has, giving examples and calculations. (If you haven’t already, you may also like to see our articles on Claims Loss…
